AUD/USD Signal Update
Last Wednesday’s signals were not triggered.
Today’s AUD/USD Signals
Risk 0.75%
Trades must be entered from 8am to 5pm New York time only.
Short Trade 1
Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7549.
Place the stop loss 1 pip above the local swing high.
Move the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Long Trade 1
Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7379.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
AUD/USD Analysis
Although “risk” in the form of the AUD did recover quite a lot after Friday’s Brexit results became known, in the deteriorating and increasingly “risk off” sentiment prevailing in today’s markets, the pair is being dragged down, as the USD is one of the currencies benefiting from the situation. However if the situation begins to stabilise, the area at 0.7379 could become attractive for a long trade entry.
There is nothing due concerning either the AUD or the USD.